This file briefly describes both the computational and data files that can be used to replicate the results presented in "Are Supply Shocks Contractionary at the ZLB? Evidence from Utilization-Adjusted TFP Data."  The descriptions of the files below are rather brief because the files generating the main results have a more detailed discussion in them. 

We should note that the naming of the files does not necessarily correspond to the Figure/Table number in the text. This is because some figures had to be cut or combined to meet the journal's page limit at final submission. Notes below, however, clearly indicate which figure/table each file generates.

We divided the files in two folders. The "Theory" folder has all the files that generate the results emerging from variations of NK models. The "Empirical" folder contains the files that generate all the empirical results in the paper. In order to replicate the results in the paper, the files for each folder should be in the same directory. 

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						THEORY FOLDER: 
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1T. FIGs_1_2_Baseline_Theory_alt.m 
	This file generates the impulse responses in Figure 1 of Section 2. 
2T. FIG_12_Robustness_Theory_Persistence.m 
	It generates Figure 9 in the paper.  
3T. FIG_12_Robustness_Theory_Persistence_solve.m  
	This is the file that solve the models with the two different specifications for the persistence of the productivity shock. Both 2T and 3T need to be in the same directory in order to generate the figure. 
4T. FIG_A1_Stochastic_Peg.m
	It generates Figure A1 in Appendix A of the paper (IRF as function of the duration of ZLB from a stochastic peg).
5T. FIG_B1_Taylor_Rule.m
	It generates Figure B1 in Appendix B of the paper (IRF as function of the duration of ZLB from a Taylor Rule).
6T. FIGs_C1_C2_C3_C4_Medium_Scale_Main.m
	This is the main file that would need to be run in order to generate Figures C1, C2, C3, and C4 in Appendix C. It uses several files: 7T, 8T 
7T. FIG_C1_main.m
	File that assigns the values to parameters, runs the .mod file, and creates the IRF in Figure C1. It uses the files described in 9T, 11T, 12T, 13T, and 14T. 
8T. FIGs_C2_C3_C4_growth_main.m
	File assigning values to parameters, runs the .mod file, and creates the IRFs in Figure C2, C3, and C4. It uses the file described in 10T, 11T, 12T, 13T, and 14T.  
9T. FIG_C1_base_model.mod 
	Dynare file that solves the model that generates Figure C1. 
10T. FIGs_C2_C3_C4_growth_base_model.mod
	Dynare file that solves the model that generates Figures C1, C2, and C3. 
11T. FIGs_C1_C2_C3_C4_find_flex_price.m	
 	Obtains the prices in the flexible case. 
12T. FIGs_C1_C2_C3_C4_find_peg_shocks.m
	Finds peg. 
13T. FIGs_C1_C2_C3_C4_irf_dynare.m
	Modified Dynare file generating IRFs. 
14T. FIGs_C1_C2_C3_C4_simult_r.m
	Modified Dynare file auxiliar to generating IRFs.

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						EMPIRICAL FOLDER:
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1E. FIGs_3_4_Table_3_Baseline_Output.m
	This File generates Figure 2 in the paper and Figure E1 in the appendix. It is also used to generate Table 3. 
2E. FIGs_5_6_Table_4_Baseline_Inflation.m
	It generates Figure 3 in the paper and Figure E2 in the appendix. It is also used to generate Table 4.
3E. FIG_7_Robustness_Data_Output.m
	This is the file that generates Figure 4 in the paper. It assumes the file with the corresponding results were previously generated by selecting the appropiate options in 1E. 
4E. FIG_8_Robustness_Data_Inflation.m
	This is the file that generates Figure 5 in the paper. It assumes the file with the corresponding results were previously generated by selecting the appropiate options in 2E. 
5E. FIG_9_Robustness_Output.m
	File creating Figure 6. It runs the files described in 6E, 7E, 8E, 9E, 10E, and 11E and plots combines the several figures to create the figure presented in the paper. 
6E. FIG_9_Robustness_Output_recession.m 
	Creates the IRF that includes a recession dummy. 
7E. FIG_9_Robustness_Output_growth.m 
	Creates the IRF where the empirical specification is in growth rates. 
8E. FIG_9_Robustness_Output_zlb.m
	Takes into account an alternative definition for the ZLB.
9E. FIG_9_Robustness_Output_time_trend.m 
	Robustiness with respect to a trend. 
10E. FIG_9_Robustness_Output_time_trend_quadratic.m
	Robustness with respect to a quadratic trend. 
11E. FIG_9_Robustness_Output_lags.m
	Different lag specifications for the empirical framework. 
12E. FIG_10_Robustness_Inflation.m
	File creating Figure 7. It runs the files described in 13E, 14E, 15E, 16E, 17E, and 18E and plots combines the several figures to create the figure presented in the paper. 
13E. FIG_10_Robustness_Inflation_recession.m 
	Creates the IRF that includes a recession dummy. 
14E. FIG_10_Robustness_Inflation_growth.m 
	Creates the IRF where the empirical specification is in growth rates. 
15E. FIG_10_Robustness_Inflation_zlb.m
	Takes into account an alternative definition for the ZLB.
16E. FIG_10_Robustness_Inflation_time_trend.m 
	Robustiness with respect to a trend. 
17E. FIG_10_Robustness_Inflation_time_trend_quadratic.m
	Robustness with respect to a quadratic trend. 
18E. FIG_10_Robustness_Inflation_lags.m
	Different lag specifications for the empirical framework. 
19E. FIG_11_Productivity_to_Productivity.m
	File that generates Figure 8, which plots the IRF of productivity to productivity. 
20E. FIG_D1_Monte_Carlo.m
 	Creates Figure D1 in Appendix D which shows the results from a Monte Carlo exercise comparing different methods. 
21E. FIGs_D2_D3_Monte_Carlo_Varying_r_lambda.m
	File generating Figures D2 and D3 in Appendix D presenting the sensitivity of SLP to different values of r and lambda.
22E. FIGs_D2_D3_Monte_Carlo_Loop
23E. table_1_moments.wf1
	EViews file with the data and the results generating Table 1 in the paper.
24E. table_2_granger_causality.wf1
	Eviews file with the raw data and the test presented in Table 2 in the paper. 
25E. IRFVAR.m
	File that creates impulse responses.
26E. locproj_var.m
	File that creates the local projections (both smooth and regular). 
27E. locproj_var_growth.m
	File that creates the local projections for the specification in growth rates.
28E. locproj_var_sur.m
	File that creates the local projections for the SUR in Tables 3 and 4.  
29E. NeweyWest.m
	Computes Newey-West standard errors the local projection.
30E. NeweyWest_slp.m
	Computes Newey-West standard errors for the smooth local projections.
31E. olsvarc.m 
	This files estimates a level VAR with intercept in companion form by OLS.
32E. shadedplot.m 
	Matlab file that shades an area between two functions. 

The following are the data files used in the matlab files above: 
33E. Data_File.xlsx
34E. Data_File_Baseline.csv
35E. Data_File_Data_for_ZLB.csv
36E. Data_File_Growth_Specification.csv
37E. Data_File_Inflation.csv
38E. Data_File_Output.csv
39E. Inflation.xlsx
40E. Output.xlsx
43E. Robustness.xlsx
44E. Robustness_Inflation.xlsx
45E. Data_Readme. 
	This file describes the data sources and the manipulations. 





